Mining company New Century Resources (ASX:NCZ) has defined a new indicated mineral resource at its south block zinc mine deposit, which could potentially extend the mine’s life and increase its production.
Preliminary testing has shown recoveries of up to 82 per cent zinc, 85 per cent lead and 83 per cent silver through the existing processing plant.
The company said testing to date has been positive, and confirms the south block deposit will be suitable for processing via the existing plant configuration at the mine.
The total contained mineral resources complement its existing proved ore reserve, which is beyond the recently announced Restart Feasibility Study.
The company is now planning the initiation of an expansion feasibility study for the second quarter of 2018 to assess the potential for resources to increase the mine’s life and increase zinc and lead metal production.
Shares in New Century Resources (ASX:NCZ) are trading 2.48 per cent higher at $1.45.